Realogy has been recognized for its work in artificial intelligence.
The company – the nation’s biggest real estate firm – was shortlisted for a Corporate Innovation in AI award at The AIconics Awards Ceremony in San Francisco.
Realogy has been using its own data to develop machine learning and AI programs to identify the best agents to recruit and retain.
The firm was able to identify hundreds of variables that allow it to identify top agent talent to be recruited based on historical patterns and future potential.
It also allows the firm to determine existing agents that are most likely to drive sales success, and ensure they are provided the resources to support and accelerate their growth.
“It is clear from this exciting honor that the significant investments we have made in Advanced Analytics solutions to help accelerate innovation and drive growth will benefit our agents and our company,” said Dave Gordon, Realogy’s chief technology officer.
“We have more access to data than any other real estate entity and we’re using our size and scale to fundamentally reshape how we do business, while disrupting the real estate industry with the benefit of our agents and their customers in mind.”
“The work that lead to our nomination was only possible because of the collaboration between all aspects of our businesses, and an incredible willingness of the employees and leadership at Realogy being willing to think differently about how we approach the core business of real estate,” added Neerav Vyas, Realogy’s VP of Analytics.
“The award is a recognition that we’re not paying lip service to innovation but truly embracing it and making it our mission to ensure that our work makes a real impact on our business and positively improves the experiences of our brokers, agents, and consumers.”
The AIconic was won by software testing company Functionize. American Express was named runner up for a machine learning studio that uses AI to improve everything from fraud detection to new customer acquisition.
Realogy was shortlisted for the Corporate Innovation award along with Lenovo, Autodesk and Paychex.
The AIconics Awards were established by the AI Summit in 2016 to innovations in artificial intelligence and transforming them into products and services. Submissions are evaluated by a panel of 13 independent judges that include AI experts, investors, academics and enterprise end-users.